FxWirePro: USD/SGD slips below 1.32 mark, good to sell on rallies

• USD/SGD is currently trading around 1.3180 marks.
   
• It made intraday high at 1.3198 and low at 1.3171 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3225 mark.
   
• A daily close above 1.3189 will test key resistances at 1.3254, 1.3302, 1.3353, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3189 will drag the parity down towards key support at 1.3132/1.3015/1.2855 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position in USD/SGD around 1.3190, stop loss 1.3254 and target of 1.3132.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest